[AT] OT Irrovicable Trusts and Land and Family...

[william.neff.powell at comcast.net]

Hello,

Some what tractor related in that I use some tractors on some family land that we are trying to sort out..... We have an 8n, WD, and D2 that we with on the property.

My Father and Aunt owns the land that was inherited from my grandfather. My Aunt has ended up in financial distress and wants out of the land. It is 100 acres with a cabin and a fair value is $1000.00 per acre. The land is owned under "Right of Survivorship" (Thats another story...)

My father wants his four children to buy into the Aunts half. We talked about some ways to set it up and we are leaning toward a Trust. When my father passes his half will be equaly distributed into the trust.

Has anyone done anything like this? I want to make sure this is done right before I sign off on the deal. I am trying to write up bylaws to spell out usage and every eventuallity that may occur. I want to avoid any arguments after our agreement. There are some strong opinions amoung the 4 children but in theory we all want the same outcome. 

Does anyone have bylaws that work for multi trust membership? 

Any information will be helpfull..

Regards,

Will Powell